Inflation eases to 3 percent yr/yr in October

Consumer prices in Hungary rose by an annual 3.0 percent in October, level with the medium-term target of the National Bank of Hungary (NBH), the Central Statistical Office (KSH) said on Tuesday.

Headline CPI fell from 3.4 percent in September and 3.9 percent in August.

Food prices rose by 6.5 percent and prices of spirits and tobacco – lifted by tax changes – were up 6.1 percent. Prices for both groups of products climbed at a slower pace than in the previous month.

Prices in the category of goods that includes vehicle fuel fell by 0.9 percent as vehicle fuel prices dropped by 5.3 percent.

Clothing prices edged 0.5 percent lower, consumer durable prices rose by 2.9 percent and household energy prices inched up 0.2 percent. Service prices were up 2.4 percent.

Core inflation, which excludes volatile fuel and food prices, was 3.8 percent.

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